Key insights
- A court approved an $8.5M settlement for Virgin Galactic investors who purchased stock between July 2019 and October 2021. Eligible investors must submit claims to receive a payout, with the distribution amount depending on the number of claims filed. The payout process is expected to take 4-9 months after the claim deadline. This news has a slightly negative influence as it highlights past investor losses.
Hey guys, so the agreement that was settle last November, got the court's approval last week.
So, what's next for us?
Now, all damaged investors need to submit a claim to get a part of the payout pot.
Who is eligible?
All persons or entities who purchased publicly traded common stock of Virgin Galactic Holdings, Inc. and/or Social Capital Hedosophia Holdings Corp. between July 10, 2019, and October 12, 2021, inclusive, and were damaged thereby.
Do you have to sell securities to be eligible?
No, if you have purchased securities within the class period, you are eligible to participate. You can participate in the settlement and retain (or sell) your securities.
How long will it take to receive your payout?
The entire process usually takes 4 to 9 months after the claim deadline (pending, we'll know this in a few more days). But the exact timing depends on the court and settlement administration.
How to claim your payout, and why it's important to act now?
The settlement will be distributed based on the number of claims filed, so submitting your claim early may increase your share of the payout.
In some cases, investors have received up to 200% of their losses from settlements in previous years.
We're in the final countdown to get our money back. Good luck everyone!